Belgrade, Serbia, November 4, 2016—IFC,
a member of the World Bank Group, will advise the city of Belgrade on ways
to improve the energy efficiency of public buildings in the Serbian capital,
helping to make social housing, hospitals, and schools better places to
live and work.
Under Belgrade’s Smart City strategy, IFC
will use various strategies and tools such as energy audits to identify
opportunities related to buildings, district heating, street lighting,
and other urban infrastructure. IFC will also help create a plan for phasing
in investments and improvements.
“The city of Belgrade is deeply committed
to solving environmental and energy-efficiency-related problems,” said
Belgrade Mayor Sinisa Mali. “Working with IFC will ensure that we are
implementing the best possible solutions that will benefit the citizens
of Belgrade while also serving as an example for other cities in Serbia
and the region.”
IFC already advises the city of Belgrade
on structuring and implementing public private partnerships to improve
waste management and wastewater treatment as part of IFC’s Cities Initiative.
The initiative helps municipalities, utilities, and companies collaborate
on pressing infrastructure needs. IFC has invested about $10 billion in
city-related projects and managed $260 million in municipal advisory projects
in recent years, spanning more than 60 countries.
“Cities generate more than 70 percent of
the world’s greenhouse gas emissions, which makes sustainable urban infrastructure
a powerful tool against climate change,” said Nena Stoiljkovic, IFC Vice
President for Global Client Services. “Investments in energy efficiency
and green buildings also make smart business, and we will be identifying
potential financing structures with banks for financing new or upgraded
Serbia became a shareholder and member of
IFC in 2001. Since then, IFC's long-term investments in Serbia have totaled
$2.1 billion, including $795 million mobilized from its partners, in 52
projects across a variety of sectors. In addition, IFC has supported trade
flows of $175 million through its trade finance program. Its committed
investment portfolio in Serbia as of 30 June 2016 was $285 million. In
fiscal year 2016, IFC invested $69 million in Serbia.
IFC’s priorities in Serbia include agribusiness,
climate change, and improvements in the investment climate. IFC is also
focusing its investment services on increasing access to finance by supporting
the development of local financial institutions, especially those that
concentrate on SMEs. IFC’s advisory services aim to improve the investment
climate and the performance of private sector companies, and to attract
private sector participation in the development of infrastructure projects.
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with 2,000 businesses worldwide, we use our
six decades of experience to create opportunity where it’s needed most.
In FY16, our long-term investments in developing countries rose to nearly
$19 billion, leveraging our capital, expertise and influence to help the
private sector end extreme poverty and boost shared prosperity. For more
information, visit www.ifc.org